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Partial Lockdown Extended Through Jul 25, Gradual Easing To Begin Thereafter

IDR

Spot USD/IDR has added 25 figs, as domestic Indonesian markets reopened, and last sits at IDR14,543. A rally above Jul 8 high of IDR14,549 would turn focus to IDR14,568, which limited gains on Jul 2. On the flip side, a retreat under Jul 13 low of IDR14,462 would clear the way to Jun 28 low of IDR14,415.

  • USD/IDR 1-month NDF last seen at IDR14,624, virtually unch. on the day. Bulls keep an eye on yesterday's peak located at IDR14,676, while bears would be pleased by a slide through Jul 16 low of IDR14,487.
  • It was a good cop/bad cop show from Pres Widodo and Investment Min Luhut. The latter, who is also in charge of emergency virus countermeasures, announced an extension to the current curbs through Jul 25, while Jokowi outlined a plan to relax restrictions from Jul 26, if daily case count continues to fall.
  • FinMin Indrawati will hold a media briefing on the 2021 state budget today at 1530WIB/0930BST.
  • Bank Indonesia will deliver their monetary policy decision tomorrow afternoon, with virtually all analysts expecting no interest-rate action this time.

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